U.S. manufacturing activity expanded in May at its fastest pace in four years as companies increased inventories ahead of potential supply disruptions and rising costs tied to the war with Iran, according to S&P Global data.
S&P Global’s flash U.S. manufacturing purchasing managers’ index rose to 55.3 in May from 54.5 in April, marking the strongest reading since May 2022. A reading above 50 indicates expansion.
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